RFID (radio frequency identification) technology uses microchips and radio waves to transmit data for identifying and tracking objects. The document discusses the history and components of RFID, how it works, and its various applications in supply chain management and retail. Specifically, it outlines how RFID is being used to automate supply chain processes, reduce costs, and improve inventory management and sales for both retailers and manufacturers. Potential future applications and impacts on consumers and management decisions are also examined.